Prospera Financial Services Inc Has $17.38 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Prospera Financial Services Inc boosted its holdings in shares of International Business Machines Co. (NYSE:IBM) by 8.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,592 shares of the technology company’s stock after acquiring an additional 6,009 shares during the period. Prospera Financial Services Inc’s holdings in International Business Machines were worth $17,381,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new stake in International Business Machines during the 2nd quarter worth approximately $7,160,000. Philip James Wealth Mangement LLC acquired a new stake in shares of International Business Machines during the third quarter worth $5,117,000. Aljian Capital Management LLC acquired a new stake in shares of International Business Machines during the third quarter worth $611,000. Focused Wealth Management Inc lifted its position in International Business Machines by 52.2% in the 3rd quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock valued at $2,504,000 after acquiring an additional 3,887 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in International Business Machines by 4.5% in the 3rd quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company’s stock worth $30,992,000 after purchasing an additional 6,004 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

IBM has been the topic of a number of research reports. Jefferies Financial Group boosted their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. BMO Capital Markets raised their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Bank of America raised their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research note on Wednesday, October 2nd. Finally, Evercore ISI lifted their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

Shares of IBM stock opened at $208.09 on Tuesday. The firm has a market capitalization of $192.41 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 4.60 and a beta of 0.71. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The business’s 50-day moving average price is $218.88 and its 200-day moving average price is $194.18. International Business Machines Co. has a 12 month low of $152.35 and a 12 month high of $237.37.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period last year, the company earned $2.20 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. Equities research analysts forecast that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $1.67 per share. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.21%. International Business Machines’s payout ratio is 97.23%.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.